The rise in EV battery manufacturing, alongside the Make in India initiative, will lower manufacturing costs and boost EV sales in the country, according
Ev Sales India: The survey by LocalCircles said that just 5% may buy electric cars this year out of 4 million total car sales. Majority of the respondents were interested at INR 8-10 lakh. Of the 40,000 respondents who participated in the survey, 42% are from tier-1 cities, 34% from tier 2 and the remaining 24% from tier-3, 4 and rural areas.
Electric Car Sales: The survey by LocalCircles said that just 5% may buy electric cars this year out of 4 million total car sales. Majority of the respondents were interested at Rs 8-10 lakh. Of the 40,000 respondents who participated in the survey, 42 per cent are from tier-1 cities, 34 per cent from tier 2 and the remaining 24 per cent from tier-3, 4 and rural areas.
Auto Sales India: According to data from FADA, the overall auto retail market in India grew by 15% YoY in January. The two-wheeler, three-wheeler, passenger vehicle, and tractor segments witnessed YoY growth of 15%, 37%, 13%, and 21%, respectively. However, commercial vehicles (CVs) only saw a 0.1% growth due to factors like extreme weather, tightened liquidity, high vehicle costs, and more restricted financing.
The affordability and suitability of electric two-wheelers for short to medium-distance travel have made them a cost-effective alternative to traditional petrol scooters and motorcycles. The Indian government has shown its support for electric mobility through initiatives like the FAME II scheme, which provides subsidies and incentives for electric two-wheelers. Budgetary boosts, including reductions in customs taxes and investments in recycling, have created a favorable environment for the growth of electric two-wheelers.